According to Future Market Insights research, during the projected period, the global Material Handling Equipment market is set to enjoy a valuation of US$ 213.35 Bn in 2022. According to the FMI analysis, the global Material Handling Equipment market is anticipated to register a CAGR of 5.7% during 2022-2032.
The demand for the material handling equipment is primarily driven by the growing e commerce industries and increasing automation in the logistics sectors. The top 5 key players of the global Material Handling Equipment market are Liebherr Group, KION Group AG, Jungheinrich AG, Viastore Systems GmbH, Eisenmann AG., etc.
A new forecast by FMI analysis estimates that Material Handling Equipment sales will augment during 2022-2032 and is anticipated to create a growth opportunity of US$ 158.05 Bn. This growth opportunity I owing to the booming industrial sectors worldwide which is demanding the surge in material handling equipment.
The growing industrial and factory automation with increasing technology and process automation is projected to create a growth opportunity for the global Material Handling Equipment market during the forecast period. Manufacturers, factory owners and industry person are more concentrating on minimizing the hard work and process timing of movement of goods and products and transportation.
The rise in sectors like transportation, agricultural, courier facility, shipping and machinery industry is fueling the surge in demand for worldwide market of Material Handling Equipment.
Competitive Landscape
The key players operating in the global market are focusing on expanding their capacities and resources to meet the growing demand of Material Handling Equipment by establishing their new plants in the targeted market. Also, the key players are adopting collaboration & joint venture strategies to increase their presence and resources.
Some of the key developments are–For instance, In March 2021, Aarekies Brienz AG, based in Brienz, Switzerland, acquired an industrial truck called ‘LH 60 M Port Litronic’ from Liebherr Group. Organizations can use the product to efficiently manage common shipments and large items.
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Material Handling Equipment Market by Category
By Product Type, the market is segmented as:
- Conveying Equipment
- Industrial Trucks & Lifts
- Hoist
- Cranes & Monorails
- Automated Material Handling Equipment
By End Use, the market is segmented as:
- Aerospace
- Agriculture
- Air Cargo
- Automotive
- Building and Construction
- Electrical & Electronic Equipment
- Industrial Machinery
- Shipping Industry
- Warehousing
- Postal/Express Delivery
- Other industries
By Region, the market is segmented as:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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